Phoenix Solar has secured two new contracts of one MWp each in Tamil Nadu and Gujarat states, India. The projects were signed with Phoenix Solar Pte Ltd in Singapore, its Asia Pacific subsidiary. Both PV projects will use thin film technologies. Both projects are scheduled to be connected to the grid by 31 December, 2011.
Having undertaken a scan of the geographical map for PV demand, Jefferies analyst Jesse Pichel believes the long anticipated second-half year boom is proving elusive to see. In a research note to investors, the firm noted that demand improved in June, but July appears to have flatlined, despite increased factory utilization from major PV module suppliers. Pichel raised the alarm that inventory could be building again, after being consumed in the April-June timeframe.
Despite the first-half slump in PV installations and significant inventory build across the PV supply chain, leading polysilicon producer Hemlock Semiconductor would seem to be riding its 50th year in business in style, as Dow Corning management noted that the polysilicon JV arm had remained ‘sold-out’ in the first half of the year and the situation would remain the same for sometime.
Granted, we are dealing with little acorns, but Westinghouse Solar reported revenue for the second quarter of 2011, up 38% q-on-q and expects revenue to accelerate further from the third quarter onwards as its recently announced new modules gain traction in the market.
Not wanting to be left in the shade in this record-breaking year for solar cells, First Solar has reported that its test cadmium-telluride (CdTe) cells have reached 17.3% conversion efficiencies. The figure – confirmed by NREL – trumps the previous record of 16.7%, which was achieved back in 2001.
Collaboration between Merck and Nano-C is intended to bring about breakthroughs in nanostructured fullerene derivatives and semiconducting material formulations that overcome performance limitations of existing organic photovoltaics (OPV) materials. Merck’s Chilworth Technical Centre near Southampton, UK, is heading up the research.
Thermal processing equipment specialist Despatch Industries has been acquired by Illinois Tool Works for an undisclosed amount. ITW does not have any direct previous involvement in the PV industry. Despatch had posted record revenue in 2010 of US$200 million and is expected to produce revenue above US$200 million this year. ITW's revenues exceeded US$15 billion in 2010.
Bucking the trend for downward revised shipment guidance for the second quarter, Canadian Solar said that it expects module shipments of approximately 295MW, higher than previous guidance of between 245MW-255MW. The company said that increased demand had led to the revision but would also mean gross margin guidance would be at the lower end of its prior guidance range of 13%-15%. Greater reliance on outside purchased solar cells to meet orders was said to be the reason for the lower expected margins.
CIS thin-film module manufacturer Solar Frontier has started shipping 150W modules with 12.2% conversion efficiencies after accelerating its production roadmap and achieving production targets ahead of schedule at its Kunitomi plant in Japan. Based on ‘keen’ interest in its low-cost, high-yield technology, which benefits from the ‘light soaking effect', unique to CIS technology, Solar Frontier said shipments were going to customers on a global basis, though quantity figures were not released.
Equity analyst Jesse Pichel of investment bank Jeffries believes there is little sign of growing PV demand after attending the first day of Intersolar North America. In a research note to investors, Pichel cites weaker-than-expected market demand in the US, due to PV project developers and residential consumers waiting for PV prices to bottom.
